eternitus

Clinton and Obama: Hedge Fund Killers

Just pandering for votes... On the personal taxes, these guys should pay the same rates as everyone else.

Taxing the public operating companies is another thing altogether. It seems ridiculous to me that we would tax these partnerships at a higher rate when the "little guys" finally get a chance to own these things, but not at the private level where only wealthy guys have access.

In addition, it seems like a monumental waste of time for congress to levy a tax a grand total of 3 companies (I think OZM is one), especially when it will be challenged in court by the companies on the basis of discrimination. Different corporate structures are taxed different ways (C-Corps, S-Corps, LPs, LLCs)... every company, public and private, has a right to chose whichever structure it wishes. What justification is there to single out a few successful companies and say that they aren't allowed to use a limited partnership structure, while some other public companies are?

Blackstone: The Stock Buyback Which Isn't

Full Disclosure: I've been buying since BX breached $20. Way undervalued because most don't understand the business.

Blackstone: The Stock Buyback Which Isn't

Felix,
I'm not sure the press release stated that Blackstone Management will be buying the units. Blackstone management controls Blackstone Group (the public company) as General Partner, and I believe they are directing the public company to repurchase the shares. If that is the case, then the shares will inure to the benefit of all shareholders.

What I would like to know is what portion of these funds will go to buy back units of Blackstone Holdings (Schwarzman and his buddies) and at what price, especially when these units are supposedly equivalent to the publicly traded units.

As you can see from above, the operation of the company is confusing, and because public shareholders can never control the company (the general partner always controls in a limited partnership)... the only thing keeping interests aligned is the huge holdings of the insiders.